Pfizer Shares Fall After Dow Jones Reports Supply Chain Problems
(Bloomberg) -- Pfizer shares fell as much as 3.1% after Dow Jones reported that the company expected to ship half of the Covid-19 vaccines it had originally planned for 2020 because of supply-chain problems.
- Pfizer and BioNTech had hoped to roll out 100 million vaccines world-wide by the end of 2020; the plan has now been reduced to 50 million, DJ reported
- Company still expects to roll out more than a billion doses in 2021
“Scaling up the raw material supply chain took longer than expected,” a company spokeswoman told Dow Jones
- “And it’s important to highlight that the outcome of the clinical trial was somewhat later than the initial projection,” she said
- NOTE: Major U.S. Indexes hit session lows after the news
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